Grenouille Properties. Grenouille Properties (U.S.) expects to receive cash dividends from a French joint venture over the coming three years. The first dividend, to be paid in one year, is expected to be 740,000. The dividend is then expected to grow 10.2% per year over the following two years. The current exchange rate is $1.36057. Grenouille's weighted average cost of capital is 11%. a. What is the present value of the expected dividend stream if the euro is expected to appreciate 3.90% per annum against the dollar? b. What is the present value of the expected dividend stream if the euro were to depreciate 2.90% per annum against the dollar? a. Assume that the euro is expected to appreciate 3.90% per annum against the dollar. Calculate the dividends in U.S. dollars for the next three years below: (Round to the nearest whole number for the dividends and round to four decimal places for the exchange rates.) Year 1 Year 0 Year 3 Year 2 740,000 Dividend stream expected from investment () 1.3605 Current and expected spot rate (S/E) $ Dividends ($) Enter any number in the edit fields and then click Check Answer. Clear All Check Answer 3 parts remaining